Income Tax Return (ITR) filing requires selecting the correct ITR form based on your income type and category. Filing the wrong form can lead to:
- Return rejection
- Notices from Income Tax Department
- Delay in refunds
Finance Saathi provides expert assistance for filing all ITR forms, ensuring accurate filing and maximum tax benefits.
List of ITR Forms & Applicability
| ITR Form |
Applicable To |
Description |
| ITR-1 (Sahaj) |
Salaried individuals |
Income up to ₹50 lakh |
| ITR-2 |
Individuals & HUF |
Capital gains, multiple income |
| ITR-3 |
Business/Profession |
Business income |
| ITR-4 (Sugam) |
Presumptive income |
Small businesses |
| ITR-5 |
Firms & LLPs |
Partnership & LLP |
| ITR-6 |
Companies |
Corporate entities |
| ITR-7 |
Trusts & NGOs |
Charitable institutions |
Detailed Understanding of ITR Forms
ITR-1 (Sahaj)
| Feature |
Details |
| Income Type |
Salary, pension |
| Limit |
Up to ₹50 lakh |
| Not Allowed |
Capital gains, business income |
ITR-2
| Feature |
Details |
| Income Type |
Capital gains, multiple sources |
| Applicable |
Individuals & HUF |
| Not Allowed |
Business income |
ITR-3
| Feature |
Details |
| Income Type |
Business/profession |
| Applicable |
Professionals, traders |
ITR-4 (Sugam)
| Feature |
Details |
| Scheme |
Presumptive taxation |
| Applicable |
Small businesses |
ITR-5
| Feature |
Details |
| Applicable |
Firms, LLPs |
| Income Type |
Business income |
ITR-6
| Feature |
Details |
| Applicable |
Companies |
| Filing Mode |
Online mandatory |
ITR-7
| Feature |
Details |
| Applicable |
Trusts, NGOs |
| Purpose |
Charitable income reporting |
